15225 replies to this topic

[Tiekkie]

Heavy losses again in the results...is that because they pleading poverty? Or is it a sinking ship

at least there is a starting point now for everyone to make am informed decision on the company.

[Tiekkie]

Heavy losses again in the results...is that because they pleading poverty? Or is it a sinking ship

[Tiekkie]

Technical head and shoulders....this share will rise next week....R2,30 my guess

[Zanme]

Looking at other corporates that had this type of scandal...Enron, Bell Potigner(similar reputational) and a number of others in recent years.....they all went bankrupt within a year or shorter...the hurdles were just to big and complex for the management to want to take it on... and they closed their doors quick, quick....One has to take your hat off for this company for facing such an onslaught for so many years and still keeping the lights on...... a testament to their commitment and skill ....tis a pity the media and other do not recognize this.....and give them a break

Are you for real????

[nosh]

https://za.investing...perties-2263249
 

Steinhoff agrees sale and lease-back of Conforama Iberia properties

[Tentative]

Ouch.

 

Though nothing new. I would put it in light of their 3-step-recovery, with at least a positive (but still very open) statement on step 2: "it it is more likely than not that the global Litigation Settlement Proposal will succeed". For me, it is also therefore the delay for the GS to June was disastrous for us shareholders, as this just means Steinhoff will remain poor & technically insolvent for months longer, plus continued uncertainty on GS-approval, with more & more pressure to throw in the towel.

 

Honestly a bit in doubt what the best step for the small shareholder is here! Risk / reward has worsened?

 

So the Equity drop again from -3'449 € (half year 2020) to -4'191 € (full year 2020).

 

Again, strong operational business but wery weak financial figures.

As we known, debt level and costs are completely destroying the company value, in addition to 'temporary' legal costs.

 

Moreover I don't like this sentence:

 

At 30 September 2020, the Group’s total liabilities exceed its total assets and there is uncertainty regarding the Group's ultimate ability to settle its long-term debts.

 

Seems it was not present in previous reports.

 

Let's see what will happend.

[Tolly12]

So the Equity drop again from -3'449 € (half year 2020) to -4'191 € (full year 2020).

 

Again, strong operational business but wery weak financial figures.

As we known, debt level and costs are completely destroying the company value, in addition to 'temporary' legal costs.

 

Moreover I don't like this sentence:

 

At 30 September 2020, the Group’s total liabilities exceed its total assets and there is uncertainty regarding the Group's ultimate ability to settle its long-term debts.

 

Seems it was not present in previous reports.

 

Let's see what will happend.

[Africa1962]

 

Jooste se eie firma eis R4,1 mjd. van Steinhoff @ https://docdro.id/6ZXJyUM

 

 

Looking at other corporates that had this type of scandal...Enron, Bell Potigner(similar reputational) and a number of others in recent years.....they all went bankrupt within a year or shorter...the hurdles were just to big and complex for the management to want to take it on... and they closed their doors quick, quick....One has to take your hat off for this company for facing such an onslaught for so many years and still keeping the lights on...... a testament to their commitment and skill ....tis a pity the media and other do not recognize this.....and give them a break

[Squideye]

Jooste se eie firma eis R4,1 mjd. van Steinhoff @ https://docdro.id/6ZXJyUM

[DeltaHedge]

operationally they are a powerhouse but this ******* debt pile destroys their soul and then everything falling back on claims settlement.

 

@Andi how does the equity accounting method show that they are still trying to undervalue their assets?

[Leadingedge]

We survived the first round!!!! At Q1 announcement expecting a nice spike up.

 

Those damn computers were at it again...looks like someone reset them. Haha. Completely forgot about the Q1 update.

[Squideye]

Q1 Trading update – quarter ended 31 December 2020 @ https://www.steinhof...er-2020_web.pdf

[DayTraderDad]

We survived the first round!!!! At Q1 announcement expecting a nice spike up.

[sommerso]

And just like that, volume has doubled in the last. Took the whole day to reach 1M shares and now already on 2M 

 

Anyone that read through the report, please feel free to provide opinions on the matter, while the sell off is continuing 

 

[DeltaHedge]

wowee their finance costs are insane - EBITDA 1055 VS FINANCE COSTS 1191, OUCH!

[Leadingedge]

I am guessing they chose to go with poverty then...what a fantastic week this has been across the board.

[CasualTrader]

Remind me to never sell on a Friday. 

Edited by CasualTrader, 26 February 2021 - 12:53 PM.

[Squideye]

Lekker studies of 302 pages: Annual Report @ https://senspdf.jse....snhe/AR2020.pdf

 

[DayTraderDad]

Very low volumes, everyone is holding on,

Current price being driven by few small trades.

The calm before the storm!!!  Hahaha

[Everlearning]

Very low volumes, everyone is holding on,

Current price being driven by few small trades.